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CBUAE’s foreign assets hit AED 406bn in February

CBUAE’s foreign assets hit AED 406bn in February
Balance and deposits abroad increased by 27.6%

UAE – Mubasher: The foreign currency balance at the Central Bank of the UAE (CBUAE) climbed by 13% or AED 47 billion to AED 406 billion in February 2020, compared to AED 359 billion during the same month of 2019, according to the Emirates News Agency (WAM).

The monthly rise in the CBUAE’s foreign assets in February was driven by a 27.6% increase in its balance and deposits abroad to AED 369.78 billion, against AED 289.76 billion during the corresponding period of 2019.

At the same time, the value of Emirati foreign securities held to maturity reached around AED 18.07 billion last month.

In January 2020, the foreign assets of the CBUAE jumped to around AED 400 billion, as shown by the data of the central bank.

The UAE's central bank calculation of foreign assets do not include the reserve tranche or its IMF special drawing rights.